Key Mining, an exploration-stage miner focused on two projects in Chile, filed for an initial public offering on Tuesday, with plans to list on Nasdaq under the ticker “KMCM.” Titan Partners Group is sole underwriter on the deal. Proceeds will be used to fund development and drilling of the two projects with the rest to go for working capital and general corporate purposes. The company is loss making and does not expect to generate revenue or cash flow for the foreseeable future, according to its filing documents. Its auditor Assure CPA LLC said its accumulated losses “raised substantial doubt about its ability to continue as a going concern.” The Renaissance IPO ETF IPO has gained 33% in the year to date, while the S&P 500 SPX has gained 17%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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